The market has stabilized, the first signs of a downtrend appeared

February 8, 2021 7:04:08 AM by Alexander Zorevyk
Forecast Details
PairUSDCAD
Direction Sell
StatusClosed (1.2785)
7:00
7:00
Feb. 8, 2021

-70 p
1.2855
Stop Loss
1.2785
Entry
+70 p
1.2715
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. The Current Ratio indicator have reached a critical value, too many traders expect an upward movement. In this case, we recommend to Sell only.
  2. In this sideways movement, retail traders prefer to hold long trades. There seem to be a major player interest in an downward movement.
  3. MVP line is above the price and acts as a resistance level.
  4. This zone is of an interest of a big player. We are expecting the price decrease of USDCAD and the achievement of this goal within the current day.